Waste Management(WM)

Leader

Waste Management (WM) reported $20.4B revenue in FY2024, up 6% YoY. #1 US waste and recycling company. Growing renewable energy from landfill gas. ~45,000 employees. HQ: Houston, TX.

Company Overview

About Waste Management

Waste Management, Inc. is the largest waste management and environmental services company in the United States, headquartered in Houston, Texas. Founded in 1968 and going public in 1971, Waste Management collects, transfers, disposes of, and recycles solid waste for millions of residential, commercial, and industrial customers. The company reported revenues of $20.4B in FY2024, up approximately 6% year-over-year, with a market capitalization of approximately $75B.

Business Model & Competitive Advantage

Waste Management's business spans collection (residential and commercial solid waste pickup, ~55% of revenue), disposal (operating 260+ landfills and waste-to-energy facilities, ~25%), and recycling (processing recyclable materials at 95+ processing facilities, ~10%). The company serves over 20 million residential customers and 3 million commercial customers across North America. Waste Management is also increasingly a renewable energy company — its landfills capture methane gas from decomposing waste and convert it to electricity or renewable natural gas (RNG) for commercial sale. With 130+ landfill gas projects, WM is one of the largest RNG producers in North America.

Competitive Landscape 2025–2026

Waste Management trades on NYSE (WM) with a market cap of approximately $75B. CEO Jim Fish has emphasized pricing power (waste is an essential, inelastic service), technology investments in fleet automation and recycling AI, and growth in the high-margin RNG business. Completed the $4.6B acquisition of Stericycle (medical waste) in 2024, expanding into healthcare waste management.

Revenue
$20400M
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Key Differentiators

Market Leader

Waste Management is recognized as a market leader in the Manufacturing sector, demonstrating strong industry presence and customer trust.

Enterprise Scale

With $20400M in revenue, Waste Management operates at enterprise scale with proven market validation.

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